The talk of the day in the world of insurance has been digital transformation. This means that it might just be the change in the way insurance companies work and how they engage with their customers, all because of digital technology and innovation can make a difference in the customer experience of business models and even processes powered by data analytics and digital self-service tools. The impact of the digital transformation in insurance encompasses not just risk assessment by way of predictive analytics, but also interaction and engagement through digital channels, and use of customer data for developing customized offerings for customers.